SunSirs: China EVA Market has Remained Stable recently

Recently (12.17-12.23), the domestic EVA market has remained stable with slight consolidation. According to the Commodity Market Analysis System of SunSirs, as of December 23, the benchmark price of EVA in China is 10,533 RMB/ton, which is basically stable. The price of EVA raw material ethylene is stable, with some cost support. Some EVA manufacturers have slightly increased their offers, and they have a strong willingness to raise prices. The market is mainly wait-and-see, and downstream suppliers tend to stock up on demand, with some resistance to high priced sources.

Recently (12.17-12.23), the production of EVA equipment in China has increased by about 7.6%, and the market supply pressure has once again increased. The price of raw material ethylene remains stable, while the price of vinyl acetate has slightly adjusted, providing support for the cost of EVA. As of December 23rd, the price of ethylene in the East China market has remained stable at around 7,700 RMB/ton; The price of vinyl acetate has risen to around 5,675 RMB/ton, with a slight overall adjustment.

From the perspective of the demand side, the overall downstream demand is dominated by rigid demand, and the demand for pre holiday stocking in the downstream is gradually increasing. However, there is still resistance to high priced sources of goods, and the main focus is on buying at low prices.

Overall, the stable price of raw material ethylene provides support for the EVA market. EVA production is on the rise, and supply pressure is expected to increase; The demand side urgently needs support in the short term. Overall, it is expected that the EVA spot market will remain stable with a narrow range in the short term.

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